Long Term Disability (LTD)
The LTD program provides benefits in the event of an illness or injury that prevents you from working. Payment of LTD benefits requires approval by Lincoln National Life Insurance Company. Company-Paid LTD Coverage ― A base level of protection at no cost to you that provides 50% of your monthly base pay when combined with other disability-related benefits and income (up to a maximum benefit of $142,500 per year or $11,875 per month). Employee-Paid Additional LTD Coverage ― Added protection you can purchase that adds 16.7% to your 50% company-paid coverage. With this added coverage, you would receive 66.7% of your monthly base pay when combined with other disability-related benefits and income (up to a maximum benefit of $190,095 per year or $15,841.25 per month).
Make your choice
Other considerations
What’s the cost for optional buy-up coverage? You pay $1.62 per $1,000 of your base monthly pay on a pre-tax basis.
If you're a new hire and choose to add buy-up coverage, it won't start until the first day of the month following the 30th day you’ve worked after enrolling. For example, if you were hired on July 1 and enrolled in buy-up on July 15, your coverage would begin on August 1.
Eligibility depends on your employment status. For company-paid coverage, you are eligible if you have full-time or less-than-full-time employment status. For employee-paid coverage, you are eligible only if you are a full-time employee.
Other considerations
Eligibility depends on your employment status. For company-paid coverage, you are eligible if you have full-time or less-than-full-time employment status. For employee-paid coverage, you are eligible only if you are a full-time employee.